Oman GDP projected to grow 3.5% through 2027 by Standard Chartered

Standard Chartered has forecasted that Oman’s GDP will grow by 3.5% in both 2026 and 2027. This growth is expected to be driven by resilient non-oil activity, including logistics and manufacturing, alongside positive contributions from hydrocarbon production.

The bank significantly raised its fiscal surplus projections, now expecting 4.6% of GDP in 2026 and 3.6% in 2027, up from previous estimates of 0.5% and 1.0%. Additionally, public debt is projected to decline to approximately 33% of GDP by the end of 2026 and 31% by the end of 2027. The current-account surplus is also expected to reach 5.0% of GDP in 2026 and 3.4% in 2027.

Hussain Al Yafai, CEO and Head of Coverage at Standard Chartered Oman, stated that the Sultanate is entering a new development phase from a stronger economic position. He noted that improving fiscal and external balances provide a foundation for investment in sectors critical to the Oman Vision 2040 diversification goals. The bank also highlighted that Oman’s strategic location and neutral diplomatic stance may attract investors seeking secure trade routes and reorganized regional supply chains.